NU Online News Service, July 22, 11:55 a.m. EDT
WASHINGTON—The Financial Stability Oversight Council (FSOC) will soon issue new proposed guidance on the criteria it will use to determine which financial firms are systemically significant, the deputy Treasury secretary told Congress yesterday.
In testimony before the Senate Banking Committee, Neal Wolin said the proposed additional guidance that will be published by the FSOC for comment will include "specific metrics that will help provide clarity on the FSOC's evaluation of firms for potential designation."
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